Invis Energy Raises 160 Million Euros for Wind in Ireland

Invis Energy, an Irish electricity
producer, raised 160 million euros ($210 million) to invest in
two wind farms in western Ireland as the country boosts clean-power generation.

Norddeutsche Landesbank Girozentrale and DNB Bank ASA
provided funds for the Leitir Gungaid project in Galway, due to
start operating in mid-2014, according to an e-mailed statement
today from HgCapital LLP, which owns Invis with Craydel Group.
The second wind farm, in County Kerry, will start this year.

The projects, with a combined capacity of 87 megawatts,
will provide enough power for as many as 600,000 homes. Invis
has plans for almost 300 megawatts of further capacity over the
next three years, and more after that, Craydel Managing Director
Michael Murnane said in the filing. Invis declined to elaborate.

Ireland had 1,738 megawatts of wind capacity installed at
the end of last year, according to the European Wind Energy
Association. That accounted for about 13 percent of the
country’s total electricity consumption, ranking Ireland fourth
among the European Union’s member states.